Hogan Lovells, TT&A and Khaitan & Co have guided parties involved in Milky Mist Dairy Food’s IPO, expecting to raise INR20.35 billion (USD236.6 million).
The IPO comprises a fresh issue of equity valued at INR17.85 billion and the company’s promoters offering INR2.5 billion of existing shares for sale. The company filed its draft red herring prospectus with the Securities and Exchange Board of India on 21 July 2025.
TT&A is advising the book running lead managers — JM Financial, Axis Capital and IIFL Capital Services (formerly known as IIFL Securities).
Partner Abhinav Kumar led the TT&A team, with support from managing associate Shubham Sancheti and senior associate Indira Satish. Associates Abhishek Iyer, Soham Vakil, Anand Kumar and Harsh Shekhar, and paralegal Mihika Ambikar also assisted.
Hogan Lovells is international legal counsel for the book running lead managers. Biswajit Chatterjee, managing partner of the Dubai office and head of India practice, is leading the Hogan Lovells capital markets team. Counsel Varun Jetly and Kaustubh George, senior associates Aditya Rajput, Suchisubhra Sarkar, as well as associates Aditya D’souza, Sanjana Ravjiani, Komal Israni and Purva Mishra supported the team.
Khaitan & Co counselled Milky Mist Dairy Food and its promoters, Sathishkumar and Anitha.
The core transaction team comprised partners Aditya Cheriyan and Chirayu Chandani, principal associate Tishita Mukherjee, senior associate Ayushi Saumya, and associates Kaushlendra Palawat, Vanshika Singh, and Mehar Sharma. The corporate, employment and intellectual property teams also provided support.
Milky Mist is a Tamil Nadu-based producer of paneer, curd yoghurt and other value-added dairy products. It was established in 1985 as the Milk Trading Company and 12 years later the Milky Mist brand was born.
